Phat Dat Real Estate Development Corp announced the board resolution dated November 13, 2014 as follows:
Article 1: The Board of Directors approved to contribute an additional
VND33 billion into My Loi Bridge Investment Joint Stock Company to increase its
stake to VND85 billion, equivalent to 20% charter capital:
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The capital contributed (first
time) in August 2014: VND52 billion;
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The capital contributed (second
time) in Quarter 1/2015: VND33 billion.
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Financial resource: the 2013
undistributed profit (VND40.42 billion); the 2013 investment & development
fund (VND48.742 billion).
Article 2: The Board of Directors approved to authorize Mr. Nguyen Van
Dat, Chairman cum CEO, to manage the capital contributed in My Loi Bridge
Investment Joint Stock Company.
Article 3: The Board of Directors to use VND89.162 billion from the
2013 undistributed profit (VND40.420 billion) and the 2013 investment &
development fund (VND48.742 billion) to invest in My Loi Bridge – Km 34+826 Project,
Highway No.50, Long An and Tien Giang province.
Article 4: The Board of Directors approved commitments with the bank
BIDV – Ben Thanh Branch relating to the implementation of My Loi Bridge – Km
34+826 Project, Highway No.50, Long An and Tien Giang province.
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To commit to contributing
enough VND85 billion and on schedule;
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To commit to not transferring
the contributed capital from the time My Loi Bridge Investment Joint Stock
Company signs a credit agreement until the loan balance in BIDV is repaid.
Article 5: Members of the
Board of Directors, the Directorates and Heads of relating departments of Phat Dat Real Estate Development Corp are
responsible for implementing this resolution.
